Erickson, a global provider of aviation services, received permission from the U.S. Bankruptcy Court for the Northern District of Texas to borrow $49 million under a debtor-in-possession term loan facility on an interim basis.

According to a related 8-K filing, Wells Fargo will serve as DIP revolving agent and agent for the first lien lenders.

Final approval of the proposed financing results in Erickson having access to the full $60 million to provide sufficient liquidity to fund ongoing operations in the ordinary course of business.

“We are pleased with the additional investment from our lenders and the confidence they have displayed in Erickson by meeting our financing needs,” said President and CEO Jeff Roberts. “We will continue to work toward a final restructuring plan with the continued support of our customers and suppliers.”

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Erickson Receives Interim DIP Financing Approval
Erickson Files Chapter 11, Wells Agents $180MM DIP